Impinj, Inc. (NASDAQ:PI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 79.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,992 shares of the company’s stock after selling 81,231 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of Impinj worth $4,545,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Impinj during the second quarter worth approximately $103,252,000. Renaissance Technologies LLC purchased a new position in shares of Impinj in the 2nd quarter worth $30,116,000. Principal Financial Group Inc. boosted its holdings in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares during the last quarter. AXA S.A. purchased a new stake in Impinj during the second quarter valued at about $11,574,000. Finally, FMR LLC increased its stake in Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after acquiring an additional 60,461 shares during the last quarter.

Impinj Price Performance

NASDAQ:PI opened at $188.21 on Wednesday. The firm has a 50-day moving average of $205.04 and a two-hundred day moving average of $178.12. The stock has a market cap of $5.32 billion, a P/E ratio of 211.47 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.36) earnings per share. As a group, equities analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PI shares. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Susquehanna increased their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the sale, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 655,674 shares of company stock worth $131,623,305 over the last 90 days. Insiders own 51.00% of the company’s stock.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.